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Acwa Power signs hydrogen MoU with German firm

3 February 2025

Riyadh-headquartered Acwa Power and Berlin-headquartered Securing Energy for Europe (Sefe) have agreed to partner in developing a green hydrogen corridor between Saudi Arabia and Germany.

In a social media post on 2 February, Acwa Power CEO, Marco Arcelli, said the firm has signed a memorandum of understanding (MoU) with Sefe to produce 200,000 tons of green hydrogen and deliver it starting from 2030.

The two firms signed the MoU in the presence of Saudi Energy Minister Prince Abdulaziz Bin Salman Al-Saud and German Federal Minister of Finance Jorg Kukies.

Acwa Power, in equal partnership with US firm Air Products and Saudi gigaproject developer Neom, is developing the world's largest green hydrogen and ammonia production plant in Saudi Arabia.

The $8.4bn plant will produce up to 600 tonnes of hydrogen daily, which will be converted into about 1.2 million tonnes of ammonia a year. Air Products will ship the ammonia to Europe to be cracked back to hydrogen for mobility applications.

In November last year, MEED reported that Acwa Power, backed by the Public Investment Fund (PIF), is understood to be assuming the mandate to deliver, operate and co-invest in future green hydrogen projects in Saudi Arabia.

This followed the cancellation in October of the planned launch of Energy Solutions Company, a PIF subsidiary, which was expected to become Saudi Arabia’s national champion in low-carbon hydrogen production, storage, transportation and marketing services and solutions.

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Jennifer Aguinaldo

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